Settlements

ST-499
SAP SE / Vicente Edward Garcia
SAP SE
United States
Department of Justice
Panama
2015
8/12
Unknown
Individual
Criminal
Guilty Plea
None
$0
$0
$0
$0
$0
$0
$0
NA
Art.16
Art. 1
Conspiracy to Bribe Foreign Officials
Conspiracy to Bribe Foreign Officials
Yes
According to the US Department of Justice Press Release, "Vicente Eduardo Garcia, 65, of Miami, was sentenced to 22 months in prison by U.S. District Judge Charles R. Breyer of the Northern District of California. On Aug. 12, 2015, Garcia pleaded guilty to one count of conspiracy to violate the Foreign Corrupt Practices Act (FCPA). On July 15, 2015, Garcia and the U.S. Securities and Exchange Commission (SEC) entered into a settlement of the parallel SEC investigation in which Garcia agreed, among other things, to pay disgorgement of $85,965 plus prejudgment interest. For this reason, the United States did not request, and the court did not order, forfeiture in the criminal action. In his plea, Garcia admitted that in late 2009, to secure for SAP a multimillion-dollar contract to provide a Panamanian state agency with a technology upgrade package, Garcia conspired with others to bribe two Panamanian government officials directly and a third official through an agent. Garcia admitted that the conspirators used sham contracts and false invoices to disguise the true nature of the bribes and that he believed paying such bribes was necessary to secure the initial and any future Panamanian government contracts. Panamanian officials awarded the $14.5 million contract, which included $2.1 million in SAP software licenses, to SAP’s partner as well as subsequent contracts that also included the provision of SAP products. Garcia personally received over $85,000 in kickbacks for arranging the bribes." (Source: US DOJ Press Release, "Former Executive Sentenced for Conspiracy to Bribe Panamanian Officials," December 16, 2015.)